Previous |
Next |
October 10, 2008, 12:19 PM ET
Rescue for U. Texas Medical Branch May Be In the Works
According to an article in the Houston Chronicle, banks aren’t the only institutions in need of a rescue right now. Thanks to the devastation of Hurricane Ike, the University of Texas Medical Branch, which took a hit of more than $700-million, may have to make some serious cuts and fire thousands of people. The good news is it looks like the state is going to step in to prevent UTMB from going under; the bad news is some cuts and layoffs will probably still be necessary:
Key state lawmakers said Wednesday they will devise a rescue plan to prevent massive layoffs at the University of Texas Medical Branch, which suffered $709 million in damage caused by Hurricane Ike.
Before legislators intervened Monday, leaders of the state’s oldest medical school and the largest employer on Galveston Island were contemplating a one-third reduction in its work force of 12,000.
The legislators who head the committees holding the purse strings said they plan to meet within two weeks to devise a plan to revive UTMB and avert layoffs that would increase the hardship on a community already struggling to recover from the Sept. 13 storm.
Categories: Faculty-hiring
Add Your Comment
Commenting is closed.